From a fragile, hard-to-audit Excel-based ECL model to a repeatable, transparent IFRS 9 close, without handing your credit risk judgment to a black box.
Rust was built by a team that models credit risk and IFRS 9 expected credit loss directly for financial institutions, then automated the parts of that work that don’t need to be rebuilt by hand every reporting cycle.
IFRS 9 ECL software automates the probability of default, loss given default, and exposure at default modeling that credit risk teams previously built and maintained in spreadsheets, so finance and risk teams can close on schedule without depending on one workbook and the one or two people who understand it.
Most credit risk teams didn’t choose to build their ECL model in Excel. It happened one reporting period at a time, as the loan book grew, until the workbook became too large and too fragile to safely change.
Rust is an IFRS 9 ECL platform that automates PD, LGD, and EAD curve modeling across the full lifecycle of a financial instrument, integrates macroeconomic scenario analysis into the calculation, and produces detailed reconciliation between initial and final ECL values, so credit risk and finance teams work from one traceable source instead of a chain of linked spreadsheets.
Five failures that Excel-based ECL modeling repeats every reporting cycle, and how Rust closes each one.
What teams need: A repeatable calculation that survives staff turnover and produces the same answer every time the same inputs go in.
How Rust solves it: The modeling engine runs PD, LGD, and EAD curve calculations as a configured process, not a manual formula chain built up over years.
What teams need: A transparent, traceable calculation, not a reconstructed explanation after the fact.
How Rust solves it: Complete visibility into every calculation, so the assumptions behind each ECL figure can be shown, not just asserted.
What teams need: To test a change in macroeconomic assumptions without a multi-day rebuild.
How Rust solves it: Macroeconomic factors feed multiple scenario analyses as a core, repeatable function, not a manual add-on.
What teams need: A platform that scales with portfolio growth without a full rebuild at every threshold.
How Rust solves it: Full-term PD, LGD, and EAD structures are managed across the complete lifecycle of a financial instrument.
What teams need: Dashboards that make cash flow and ECL outputs visible without a walkthrough of the underlying spreadsheet.
How Rust solves it: Customizable dashboards give a clear, direct view of cash flow and ECL outputs, aligned with IFRS 9 and IAS 39.
Assess the portfolio, configure the platform, migrate and validate data, run in parallel, go live. Rust turns IFRS 9 onboarding into a five-step process built around your existing data and reporting calendar, not a fixed template.
| Step 1: Portfolio and Data Assessment |
Prima's team reviews your current credit risk data, portfolio structure, and existing PD, LGD, and EAD methodology. | OUTPUT: A documented data-readiness assessment and a scoped implementation plan. |
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| Step 2: Configuration |
Rust's curve structures, calibration methodology, and reporting dashboards are configured to match your portfolio and deployment preference (on-cloud or on-premise). | OUTPUT: A configured Rust environment specific to your institution. |
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| Step 3: Data Migration and Validation |
Historical and current portfolio data is loaded into Rust and run through validation checks before go-live. | OUTPUT: A validated dataset with discrepancies resolved before cutover. |
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| Step 4: Parallel Run |
Rust runs alongside your existing ECL process for at least one reporting cycle so results can be reconciled before full cutover. | OUTPUT: A reconciled comparison between Rust's output and your current process. |
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| Step 5: Go-Live and Support Handoff |
Your team moves to Rust as the system of record for ECL modeling, with Prima's training and support team available for the transition period. | OUTPUT: A live IFRS 9 ECL process, with comprehensive training and support confirmed. |
| Feature | What It Means for Your IFRS 9 Process |
|---|---|
| PD, LGD, and EAD Curve Modeling | Your probability of default, loss given default, and exposure at default curves come from one consistent, full-term structure instead of a chain of linked spreadsheets. |
| Macroeconomic Scenario Analysis | Model multiple forward-looking macroeconomic scenarios and see their impact on expected credit loss without rebuilding your model. |
| Full Instrument Lifecycle Coverage | Classification and measurement run from initial recognition to the final reporting date, across the complete lifecycle of a financial instrument. |
| Detailed ECL Reconciliation | Compare initial and final expected credit loss values directly, showing exactly how and why credit losses changed over a period. |
| Customizable Dashboards | Cash flow and ECL outputs appear in a clear, configurable view aligned with IFRS 9 and IAS 39 requirements. |
| On-Cloud or On-Premise Deployment | Rust adapts to your existing IT infrastructure, whether that means a cloud environment or your own on-premise systems. |
| Role-Based Access Control | Each user sees only the functions and data relevant to their role, reducing accidental exposure of sensitive financial information. |
| Multi-Factor Authentication | Access requires more than one form of verification, adding a layer of protection against unauthorized access. |
| Flexible Calibration Methodologies | Calibration options expand alongside your institution's growth, from initial implementation to ongoing compliance. |
| Comprehensive Training and Support | Your team receives guidance on first-time IFRS 9 adoption and the mechanics of ECL calculation, not just access to the software. |
Global credit-analytics platforms are scoped for global carriers and rarely carry SOCPA or Zakat fluency. Rust was built with Saudi Arabia's regulatory and accounting environment as a primary reference point, not localized afterward.
Built with Saudi Arabia's regulatory environment as a primary reference point, aligned with standards issued by SOCPA and local considerations such as Zakat.
Built by a team that models credit risk and IFRS 9 expected credit loss directly for financial institutions, not adapted from an unrelated platform.
Guidance on first-time adoption is bundled into training and support, alongside the mechanics of ongoing expected credit loss calculation.
Rust adapts to your institution's existing IT infrastructure, whether that means a cloud environment or your own on-premise systems.
Multiple forward-looking macroeconomic scenarios feed the ECL calculation directly, sharpening precision over a static, single-scenario model.
IFRS 9 replaced IAS 39 for annual periods beginning on or after January 1, 2018. Rust covers classification and measurement from initial recognition to final reporting date.
Rust supports role-based access control and multi-factor authentication, with deployment available on-cloud or on-premise depending on your institution's infrastructure requirements.
The IFRS 9 transformation is easiest to see side by side.
| The Excel-based ECL cycle | The Rust ECL cycle |
|---|---|
| PD, LGD, and EAD logic understood fully by one or two people | Modeling runs as a configured, repeatable process |
| Validation assumptions reconstructed from memory for an audit | Complete visibility into every calculation, on demand |
| Re-running a scenario means rebuilding part of the model by hand | Macroeconomic scenarios run as a core, repeatable function |
| A growing loan book outgrows what the spreadsheet can safely handle | Full-term PD, LGD, and EAD structures scale across the instrument lifecycle |
| Leadership sees an ECL number with no easy way to verify it | Customizable dashboards give a direct, aligned view of cash flow and ECL |
| Initial vs final ECL differences explained after the fact | Detailed reconciliation between initial and final ECL values |
| IFRS 9 decision deferred because implementation scope isn't mapped | A five-step process scoped against your own portfolio and calendar |
Rust started because Prima's own credit risk and IFRS 9 teams were building ECL models by hand for banks and financial institutions, and kept hitting the same limit every credit risk team eventually hits: a spreadsheet-based PD, LGD, and EAD process that doesn't scale past a certain portfolio size and doesn't produce a transparent, defensible calculation. Rust was built with Saudi Arabia's regulatory and accounting environment as a primary reference point, not adapted from a platform designed for a different market. Prima's consulting relationship continues after go-live — Rust is the software, and Prima's credit risk and implementation teams remain the people behind it.
Rust started because Prima’s own credit risk and IFRS 9 teams were building ECL models by hand for banks and financial institutions and kept running into the same limit every credit risk team eventually hits: a spreadsheet-based PD, LGD, and EAD process doesn’t scale past a certain portfolio size, and it doesn’t produce the kind of transparent, defensible calculation that auditors and regulators increasingly expect.
IFRS 9 replaced IAS 39 and became mandatory for annual periods beginning on or after January 1, 2018. Saudi Arabia has fully adopted the International Financial Reporting Standards, and companies operating in the Kingdom prepare financial statements under IFRS, with the Saudi Organization for Certified Public Accountants (SOCPA) aligning local standards to IFRS while accounting for local factors such as Zakat.
Rust was built with Saudi Arabia’s regulatory and accounting environment as a primary reference point, not adapted from a platform designed for a different market and localized afterward. That ordering matters when an auditor or regulator asks a question a globally generic platform wasn’t built to answer. Prima’s consulting relationship with clients continues after go-live — Rust is the software, and Prima’s credit risk and implementation teams remain the people behind it.
If your ECL model still depends on one large spreadsheet and the one or two people who understand it, the risk doesn't go away because it hasn't caused a problem yet. Rust automates the PD, LGD, and EAD calculation mechanics your team shouldn't have to rebuild by hand every quarter, while keeping the judgment calls with your credit risk team where they belong.
No obligation. No sales deck before you ask for one.
Rust is IFRS 9 software that automates expected credit loss modeling for banks and financial institutions. It manages full-term PD, LGD, and EAD curve structures, integrates macroeconomic scenario analysis, and produces detailed ECL reconciliation, aligned with IFRS 9 and IAS 39 requirements.
Rust develops and manages full-term structures for Probability of Default, Loss Given Default, and Exposure at Default curves across the complete lifecycle of a financial instrument, from initial recognition to the final reporting date, supporting accurate IFRS 9 classification and measurement.
Yes. Rust integrates macroeconomic factors into multiple scenarios, which sharpens the precision of credit loss estimation compared with a static, single-scenario model.
No. Rust automates the calculation mechanics of IFRS 9 ECL modeling, the parts that don't require a person to rebuild them by hand each cycle. Your credit risk team keeps control of the assumptions, judgment calls, and sign-off. The goal is fewer hours spent rebuilding spreadsheets, not fewer credit risk professionals on the team.
Both. Rust adapts to your institution's IT infrastructure, supporting on-cloud and on-premise deployment.
Excel-based ECL processes tend to depend on one or two people who understand the full model, and they can be difficult to validate quickly during an audit. Rust runs the same PD, LGD, and EAD modeling logic as a configured, repeatable process, with complete visibility into how each calculation was produced.
Rust uses role-based access control and multi-factor authentication to protect sensitive financial information.
Rust was built with Saudi Arabia's regulatory and accounting environment as a primary reference point, including alignment with standards issued by the Saudi Organization for Certified Public Accountants (SOCPA) and local considerations such as Zakat.
Yes. Rust includes guidance on first-time adoption as part of its training and support, alongside support for the intricacies of ongoing expected credit loss calculation.
Timelines depend on portfolio size, data readiness, and your current ECL methodology. Prima's team scopes a specific timeline during the portfolio and data assessment step of the implementation process, request a demo for an estimate against your own data.
Pricing depends on portfolio scope and implementation complexity. Book a consultation for a quote scoped to your institution rather than a generic list price that wouldn't reflect your actual setup.
Rust provides the ability to compare and analyze initial and final expected credit loss values, enabling a clear assessment of how and why credit losses fluctuated over a given period.
Rust offers comprehensive, customizable dashboards that provide a clear view of cash flow and ECL outputs, aligned with the requirements of IFRS 9 and IAS 39.
Rust includes comprehensive training and support, including guidance on first-time IFRS 9 adoption and expected credit loss calculation, so your team fully understands how to use the software and stay compliant as standards evolve.
Prima Consulting provides actuarial, risk and IFRS advisory to banks and financial institutions across the GCC, Asia and Europe, including IFRS 9 ECL modeling, IFRS 17 implementation, reserving and employee benefits valuation. Rust productizes the credit risk practice: the same PD, LGD, and EAD modeling logic our teams apply on engagements, structured into software your credit risk team can run.
Rust also appears on IFRS Tech, Prima's technology arm, alongside the Delta IFRS 17 engine, the Aegis reserving platform and the IAS 19 valuation system. Institutions building a full reporting stack can pair Rust's ECL output with Delta for IFRS 17 measurement.
Related Prima services: ECL Modelling and Derivative Pricing · IAS 19 Software · Delta: IFRS 17 Compliance Software · What Is Expected Credit Loss?
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